In the UAE, the jewellery market is currently transitioning from Valentine's Day celebrations into Ramadan (starting February 16, 2026) and International Women's Day (March 8) promotions. As of February 23, 2026, gold rates in Dubai remain significantly high, though major retailers are offering cashback and "advance booking" schemes to attract buyers.
Top Brand & Retailer Offers (February 2026)
Joyalukkas UAE
Following their "Be Mine" Valentine’s launch, several offers remain active through late February:
* Cashback Vouchers: Get a AED 150 voucher on purchases of diamond and precious stone jewellery worth AED 3,500, or a AED 250 voucher for spends over AED 6,000.
* Exchange Benefits: 0% deduction on old gold exchange and 100% value on diamond exchange.
* New Collections: Featuring the Evora and Blossom collections for Spring 2026.
Malabar Gold & Diamonds
Malabar is heavily promoting their price protection and exchange schemes:
* 10% Advance Booking: Pay 10% upfront to lock in the current gold rate, protecting yourself from further price hikes during Ramadan.
* Exchange Policy: Offering 100% value on both gold and diamond exchanges for new designs.
* Special Collections: New lightweight "office wear" and "Mothers Day" edits are currently hitting the showrooms.
Damas Jewellery
* Online Discounts: Use promo codes like CAE or ACC90 for an extra 5% to 10% OFF on all jewellery when shopping via their UAE portal.
* Sale: Selected diamond and fashion gold lines (18K) are currently marked down by up to 50%.
* Installment Plans: HSBC credit cardholders can enjoy 0% interest installments for 3, 6, or 12 months on purchases starting from AED 2,000.
Kalyan Jewellers
* Raffle Draw: Customers spending AED 1,500 on uncut or precious stone jewellery get 2 raffle coupons; diamond purchases of the same value get 3 coupons.
* Prizes: A total of 200 gold coins (5g each) are being given away throughout the current promotion period.
Today's Gold Rates in UAE (February 23, 2026)
Gold prices in Dubai have seen a slight upward trend this week. Current retail rates per gram in AED (excluding VAT and making charges):
* 24K Gold: ~AED 620.25
* 22K Gold: ~AED 574.50 (Standard for traditional jewellery)
* 21K Gold: ~AED 550.75
* 18K Gold: ~AED 472.00
Shopping Tips for the UAE
* Ramadan Night Markets: With Ramadan having started on February 16, 2026, many jewellery shops in the Deira Gold Souq and Meena Bazaar have extended evening hours. Look for "Ramadan Specials" which often include reduced making charges.
* The "Advance Booking" Hack: Given the volatility (prices jumped nearly AED 7 this week), Malabar and Joyalukkas’ advance booking schemes are the safest way to shop for upcoming weddings or Eid.
* Bank Partnerships: Always check your UAE-issued cards. Banks like HSBC, Emirates NBD, and DIB often have 10% instant discounts or "0% Easy Payment Plans" (EPP) with major jewellers that aren't always advertised on the window.
* VAT Refund: If you are a tourist, remember to claim your 5% VAT refund at the airport. Ensure the retailer issues a "Tax Free" tag at the time of purchase.
Top Brand & Retailer Offers (February 2026)
Joyalukkas UAE
Following their "Be Mine" Valentine’s launch, several offers remain active through late February:
* Cashback Vouchers: Get a AED 150 voucher on purchases of diamond and precious stone jewellery worth AED 3,500, or a AED 250 voucher for spends over AED 6,000.
* Exchange Benefits: 0% deduction on old gold exchange and 100% value on diamond exchange.
* New Collections: Featuring the Evora and Blossom collections for Spring 2026.
Malabar Gold & Diamonds
Malabar is heavily promoting their price protection and exchange schemes:
* 10% Advance Booking: Pay 10% upfront to lock in the current gold rate, protecting yourself from further price hikes during Ramadan.
* Exchange Policy: Offering 100% value on both gold and diamond exchanges for new designs.
* Special Collections: New lightweight "office wear" and "Mothers Day" edits are currently hitting the showrooms.
Damas Jewellery
* Online Discounts: Use promo codes like CAE or ACC90 for an extra 5% to 10% OFF on all jewellery when shopping via their UAE portal.
* Sale: Selected diamond and fashion gold lines (18K) are currently marked down by up to 50%.
* Installment Plans: HSBC credit cardholders can enjoy 0% interest installments for 3, 6, or 12 months on purchases starting from AED 2,000.
Kalyan Jewellers
* Raffle Draw: Customers spending AED 1,500 on uncut or precious stone jewellery get 2 raffle coupons; diamond purchases of the same value get 3 coupons.
* Prizes: A total of 200 gold coins (5g each) are being given away throughout the current promotion period.
Today's Gold Rates in UAE (February 23, 2026)
Gold prices in Dubai have seen a slight upward trend this week. Current retail rates per gram in AED (excluding VAT and making charges):
* 24K Gold: ~AED 620.25
* 22K Gold: ~AED 574.50 (Standard for traditional jewellery)
* 21K Gold: ~AED 550.75
* 18K Gold: ~AED 472.00
Shopping Tips for the UAE
* Ramadan Night Markets: With Ramadan having started on February 16, 2026, many jewellery shops in the Deira Gold Souq and Meena Bazaar have extended evening hours. Look for "Ramadan Specials" which often include reduced making charges.
* The "Advance Booking" Hack: Given the volatility (prices jumped nearly AED 7 this week), Malabar and Joyalukkas’ advance booking schemes are the safest way to shop for upcoming weddings or Eid.
* Bank Partnerships: Always check your UAE-issued cards. Banks like HSBC, Emirates NBD, and DIB often have 10% instant discounts or "0% Easy Payment Plans" (EPP) with major jewellers that aren't always advertised on the window.
* VAT Refund: If you are a tourist, remember to claim your 5% VAT refund at the airport. Ensure the retailer issues a "Tax Free" tag at the time of purchase.
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